EVs put spark into used car market

Used electric vehicles (EVs) are selling in record time this month according to data from Autotrader, which says this shows the maturing used electric car market is fast coming of age as increasing affordability and choice entice buyers keen to make the switch.

Overall, the used car market is showing steady momentum, with cars selling on average in just 27 days so far this October – two days quicker than the same month in 2024 and five days faster compared to October 2023. Cars in the 3-5-year-old category are selling even quicker, taking an average of just 24 days.

Autotrader’s data shows EVs are now outpacing all other fuel types, and by some margin. October marked the third consecutive month as the fastest-selling fuel type, leaving forecourts on average in just 23 days.

Market ‘sweet spot’

Autotrader’s pricing data, which is based on 800,000 daily pricing observations across the whole retail market, highlights 3-5-year-old EVs as representing the ‘sweet spot’ for car buyers. While the average price of a used petrol car is around £15,000, and used EVs typically fetch £27,000, the story changes when it comes to the ‘middle-aged’ bracket where 1–5-year-old petrol models average £20,000 and the equivalent used EVs are just ahead at £21,000. This near price parity is translating directly into buyer behaviour, with drivers increasingly opting for electric when costs are comparable.

Buyers have clearly found their sweet spot in the three- to five-year-old segment where pricing and value make them a hugely compelling option.

“Given it’s still a new frontier for many retailers, some trepidation in selling EVs is understandable, but the rapidly expanding size of the market and the indisputable levels of consumer demand make them a very strong opportunity – especially within middle-aged cohorts, where given the choice, consumers are choosing electric.”

Fastest-selling used cars in October (up to 13th October) 

Slowest selling used cars in October (up to 13th October)